产权性质、管理层薪酬与公司多元化价值

Ownership,Management's Compensation and the Value of Diversity of the Company

在代理理论基础上,文章就管理层薪酬对公司多元化价值的影响进行理论分析。以2007-2009年我国多元化上市公司为样本,采用国际通用的超额价值法计算公司多元化价值,从而研究管理层薪酬对公司多元化价值的影响。另外,按上市公司产权性质将样本划分为国有控股与非国有控股两类,以比较两类多元化上市公司中管理层薪酬对多元化价值影响的差别。

Firstly,the essay analyzed management＇s compensation＇s effect on the value of diversity based on agent theory.Secondly,the author selected data from diversity listed companies disclosed in 2007-2009,then used international general excess value method to calculate excess value,and research management＇s compensation＇s effect on excess value empirically.Thirdly,we sort the diversity listed companies to state companies and non-state companies based on ultimate controller,and compared their differences